Business was derailed in Parliament for the tenth day on Thursday as Opposition and the Treasury benches vociferously raised matters of corruption leading to adjournment of both the Houses, causing the public exchequer well over Rs 60 crore in the winter session till now. Amid pandemonium, both Lok Sabha and Rajya Sabha on Thursday were adjourned for an hour barely a minute after they met and later adjourned for the...

The Hindu MEDIA FOCUS: "Perhaps because of the large number of journalists involved in the controversy, most Indian newspapers and TV channels have not covered the Radia tapes at all." The Niira Radia episode raises questions about the boundary between legitimate news gathering, lobbying and influence peddling. The publication of taped conversations between Niira Radia — a lobbyist for Mukesh Ambani and Ratan Tata with a keen interest in the allocation of...

Yaga Venugopal Reddy , former Reserve Bank of India governor credited with saving the nation’s financial system from the 2008 meltdown, has said what many finance experts believed, but did not have the courage to admit publicly: microfinance is India’s subprime. “Ultimately, it’s something like subprime lending,” Mr Reddy told ET in an interview ahead of his book release. “The same incentives are operating here... it was securitisation and derivatives that...

Chief minister Arjun Munda is all set to revive the Jharkhand State Planning Board — first formed during his second innings as head of state — to assist his government in drawing up development plans based on scientific assessment of available resources. The move comes close on the heels of the government setting up a three-member panel, headed by noted economist Bibek Debroy, to prepare the state’s development report. Speaking to The...

In what may change the way banks and cellphone companies as well as official agencies collect and process information about individuals, the government is proposing legislation that will empower citizens with sweeping rights to legal recourse against any misuse of personal data. The first draft of the proposed legislation has been released for public debate by the department of personnel and training (DoPT). The main aim of the umbrella legislation will be...